The College Football Playoff will expand to 12 teams after the Board of Managers approved expansion by an unanimous vote on Friday, the group that oversees the postseason system announced.

The expanded format will include the six highest ranked conference champions with the remaining spots in the field to  be made up of at-large selections. The new structure that added eight more spots to the current playoff was approved by unanimous consent of the presidential representatives from each of the 10 FBS conferences and Notre Dame.

Under the new structure, the four highest-rated conference champions by the College Football Playoff committee will receive first round byes. The first round will match the teams ranked from No. 5 through No. 12 in four games  (5 vs. 12, 6 vs. 11, 7 vs. 10 and 8 vs.9)  at the home field of the higher-ranked team.

The quarterfinal and semifinal rounds is expected to be played within the bowl system. The championship game will continue to be played at a rotating site.

NO-BRAINER: College Football Playoff expansion was long time coming

WHAT TO KNOW: Breaking down the biggest games in Week 1 of the season

CRYSTAL BALL: Our staff's predictions for the playoff, Heisman and more

WEEKEND FORECAST: Top 25 picks and bold predictions for Week 1

“This is an historic and exciting day for college football,” said Mark Keenum, the President of Mississippi State and the chairman of the CFP Board of Managers. “More teams, more participation and more excitement are good for our fans, alumni, and student-athletes. I’m grateful to my colleagues on the board for their thoughtful approach to this issue and for their resolve to get expansion across the goal line and for the extensive work of the Management Committee that made this decision possible.”

The expansion could happen as early as the start of the 2024 season or possibly the 2025 season. The 12-year contract the playoff system has with ESPN doesn't expire until after the 2025 season.

The current four-team format started in 2014 after decades of discontent between coaches and fans about how the national champion is decided in football. Initially determined by media and coaches poll, the Bowl Championship Series was created in 1998 to match the top two teams in one game after the regular season. That system lasted through the 2013 season before the current College Football Playoff system was created.

Alabama has won the most CFP championships with three, followed by Clemson with two. Ohio State, LSU and defending champion Georgia have one title each.

This article originally appeared on USA TODAY: College Football Playoff expansion to 12 teams approved by board